An Asset That Is Generally Not Expected to Be Converted

question 111

Multiple Choice

An asset that is generally not expected to be converted to cash or consumed within one year or the operating cycle is:

• A) Building.
• B) Accounts receivable.
• C) Inventory.
• D) Supplies.

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Definitions:

Power

The ability or capacity of an individual or group to influence or control the behavior of others or the course of events.

Business Operations

Business operations encompass the day-to-day activities a company engages in to run and achieve its objectives, including production, marketing, and management.

Principal

The original sum of money invested or loaned, before interest.

Agents

Individuals or entities authorized to act on behalf of another, typically in business transactions.